Mining of Cryptocurrency Legal in India: Law Check

The Reserve Bank of India (RBI) had only imposed a prohibition on trading on cryptocurrency by entities regulated by the Reserve Bank of India (RBI) itself, such as banks and other financial bodies. Thus it is implied that mining of cryptocurrency can be done and now more so, because the Supreme Court has lifted the Reserve Bank of India (RBI) on trading of Cryptocurrency, it is assumed that mining of cryptocurrency will flourish in times to come. However, any one who traded in cryptocurrency prior to the judgement did so at his/her own risk because “cryptocurrency” was not recognised, or per se regulated by the Reserve Bank of India (RBI). Now, that “regulation” of cryptocurrency has been given a green signal by the Hon’ble Supreme Court of India, the onus is on the Government of India to come up with a regulatory and legal framework that governs the usage of Cryptocurrency.

Mining of Cryptocurrency Legal in India: Law Check - (mylawyersadvice.com)

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